Yahoo has announced it will sell its HotJobs employment website to Monster Worldwide for $225 million.
Under the terms of the deal, Monster will pay Yahoo between $20 million and $31 million a year to redirect traffic to its own site.
The parties said
they have agreed a three-year deal in which Monster will provide career and job content for the Yahoo homepage in the US and Canada.
The agreement provides Monster with an exclusive period to negotiate similar agreements for Yahoo's European, Asian and Latin American sites.
BGC Financial analyst Colin Gillis told Business Week
that this was the likely the first of several asset sales, as new CEO Carol Bartz begins a process of divesting Yahoo's non-core assets. “The real notable part is it took a year to get this done,” he said.
“Yahoo remains focused on its core businesses and delivering exceptional experiences to users, partners and advertisers,” Yahoo executive vice-president Hilary Schneider said in a statement.
Yahoo acquired HotJobs in 2002 for around $436 million. It generates annual revenue of around $100 million.